EU's Piecemeal Strategy Is Broken
Why did the bailout of Spanish banks over the weekend fail to engender confidence in markets, even for a full trading day? Why did the bailout seem like such a positive when Asian markets opened, only to seem like such a disaster by the time U.S. markets closed?
The answer lies in (yes, another) misdiagnosis on the part of European Union (EU) leaders. Whether out of naiveté or willful ignorance (I suspect the latter), EU leaders have persistently chosen incremental responses to their sovereign crisis. Their time to choose a new strategy is running very low....892 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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